Energy Corridor Building Sold

HOUSTON – (Realty News Report) Interra Capital Group acquired One Park 10 Plaza, an eight-story office tower in Houston’s Energy Corridor.

JLL Capital Markets represented the seller, Accesso Partners, LLC.

Interra Capital Group, founded by Jack Polatsek, is a boutique private equity and financial advisory firm headquartered in Houston, with investment properties throughout the United States.

Located at 16225 Park Ten Place, the 162,919-SF property is within Houston’s Park Ten office park, a 550-acre, master-planned, mixed-use development comprising a major portion of the Energy Corridor.

One Park 10 Plaza is highly visible from Interstate Highway 10 and is just west of Highway 6 providing connectivity throughout the Greater Houston area. The surrounding area is home to numerous headquarters locations for many multi-national companies as well as the affluent neighborhoods of The Villages and Westchase.

One Park 10 Plaza has been continuously updated with more than $1.1 million in capital improvements over the last decade and is currently 76.2% leased to a diverse tenant roster. The property sits on a 3.27-acre site and includes a four-story, 560-space parking garage.

The JLL Capital Markets team representing the seller was led by Managing Directors Marty Hogan and Kevin McConn.

Park 10 is a master planned business center developed along Interstate by Wolff Companies, a Houston development firm led by David Wolff. Mr. Wolff, known for developing and marketing land, is credited with coining the name “Energy Corridor.”

With a reputation that stretches to the Middle East and other global markets, the Energy Corridor is – or has been – home to the offices of hundreds of energy-related companies, including Exxon, Shell and BP.

Over a decade ago, the Energy Corridor had office occupancy over 95 percent. Developers responded with many new office projects. But a decline in energy prices – often pegged to a timeline that became a nightmare at an OPEC meeting that was held of Thanksgiving Day 2014, set the market on a downward path. Houston’s energy companies went into retreat, shedding employees and office space as the oil prices fell.

In another positive milestone, a vacant Energy Corridor office building, which was completed in 2015 and has never been occupied, has been sold to a Los Angeles commercial real estate firm. The buyer, BH Properties, will make some improvements to the 128,000-SF Mason Creek II, and open it to tenants for the first time after seven years of sitting vacant.


May 18. 2022 – Realty News Report Copyright 2022

Photo Courtesy JLL

File – Energy Corridor Building Sold

LISTEN: THE RALPH BIVINS PROJECT podcast with guest MARY SHANKLIN, a Florida journalist who has covered Disney real estate for years.

Related posts

Energy Corridor Building Acquired

Realty News Report

Multifamily Construction to Fall 28 Percent, says NAHB

Realty News Report

Woodforest Bank Buys Buildings in The Woodlands

Realty News Report

Leave a Comment